Advertise with Us

December 2016

Please fill in your details to download the Table of Contents of this report for free. We also do customization of these reports so you can write to us at mi@fibre2fashion.com in case you need any other additional information.

The Saudi Basic Industries Corporation (SABIC) has announced the establishment of a new wholly-owned company with a paid up capital of Euro 18,000. The company, SABIC Capital Ltd, is based in the Netherlands.

Mohamed Al-Mady, SABIC Vice Chairman and CEO, said the new company will be primarily responsible for the financing and tax operations of SABIC's investments in Europe and USA following the acquisition of DSM Petrochemicals, GE Plastics, and other acquisitions.

Saudi Basic Industries Corporation (SABIC) is the world's 5th largest petrochemicals company. The company is among the world's market leaders in the production of polyethylene, polypropylene and other advanced thermoplastics, glycols, methanol and fertilizers.

SABIC's profit rose to a record SR 27 billion (US$ 7.2 billion) in 2007, a 33% increase over 2006. Sales revenues for 2007 totalled SR 126.2 billion (US$ 33.7 billion), the highest revenues achieved by the company since its inception. Total assets stood at SR 256 billion (US$ 68.3 billion) at the end of 2007.